HSBC set a new record low rate today but a top mortgage adviser doesn’t expect more rate drops to follow.

AMP now has its Discretionary Investment Management Services (DIMS) licence from the Financial Markets Authority, effective from 2 October 2015, allowing buy-sell decisions about a customer’s investment portfolio to be made on behalf of a customer, without the need for their authorisation for each transaction.

“We’ve spent the last few months working closely with our Advisers to get them up to speed with the changes so that from today we can hit the ground running,” says AMP New Zealand’s Managing Director Jack Regan.

A DIMS is where AMP’s licence enables appointed AFAs to provide class DIMS on the AMP Wealthview platform. The licence has provided the opportunity for Advisers and AMP to provide an enhanced service offering to our 4,000 plus customers.

“This is a significant achievement for the business and we’re proud to be amongst the first in the industry to have a DIMS licence which will make life easier for customers by removing day-to-day decisions for investors and providing them with comfort around decisions made on their behalf.

“Having a DIMS licence is also a significant driver in supporting Advisers who will require significant levels of support in this increased regulatory environment,” says Regan.